How do you measure your B2B startup marketing ROI?
What's the main difference between SMM ROI for a startup and a corporation?
The goal should be the same, find prospects, nurture relationships, convert them into customers.
What is your success metric for your B2B startup marketing?
A common practice for measuring B2B marketing ROI is by adopting a funneling approach in tracking prospects and customers. Rather than explaining it here, it would be a good idea to see how others visualize it:
The best way to manage your B2B marketing is to test different channels and record the tests in a spreadsheet.
The key instrumentation you'll need is some way to capture the traffic source (CAC) + conversions inside your application to measure LTV
Here's what I've done.
Then I run a campaign for each, spending around $500-$1000 focusing on a general benefit statement (ex: The fastest way to X) to drive traffic to the same landing page.
From the landing page there's usually a conversion step (Email, Signup, etc), but the key is to get an email.
From there, you want to track that user in your app (even if they don't signup now, using their email or cookie, you can do this).
So the funnel should be.
If you run these experiments per channel, you should start to see some that have better CPL & CAC then others.
Even if you learn that your CAC is averaging WAY MORE then your LTV, that's o.k. There's always opportunity to improve each step by 10%, or improve the products value (or pricing) to get your LTV higher.
Just knowing how much it costs you to get a customer is a big deal.
If I can help you further, you can find me on Clarity